So I got a "new" used hood and it doesn't quite fit the same as my original. It lines up straight, but when closed it doesn't snug down enough to be lined up like OEM...meaning, there is a small gap between the hood when shut and the grill/headlamps/etc. It isn't real noticeable but it is to me.

From looking at everything involved, it appears you can adjust the closed position of the hood (up or down) by turning the post/bolt (tighten or loosen).

Am I right? Or is there another way?

I've PB Blasted the crap out of it the last two days and can't get it to turn, but it sure looks like I should be able to "tighten" or "loosen" to make the hood close "lower" or "higher" to align with grill.

I'm trying not to totally strip the post end with the slit in it with a pry bar, but do I need to find how I can turn the nut way up in the hood covered by that spring?

 

Yes that post is removable and adjustable. Note the slotted end; I have used a flat-head on edge to apply the needed torque to loosen it. Once loosened the adjustment is made to the hex nut within the spring. Caution on over adjusting the bolt as too much can cause the latch to remain locked when the release is pulled. Other alignment locations are the 4 bolts on the bonnet hinge to the rear. I'm guessing if that doesn't work, compressing that spring might give you enough room to wrench on that nut.